The mainstream adoption of cryptocurrencies has brought immense potential to the fintech industry, and some of the capabilities have spilled over into the real estate market. Subsequently, the real estate sector is evolving to accommodate a new crop of investors who prefer making payments using crypto.
The trend of investing in real estate with crypto gained momentum in 2021 following a market explosion that saw Bitcoin (BTC) breach the $60,000 mark. Today, numerous jurisdictions have amended their real estate laws to allow property purchases using crypto due to their transformative impact.
Alexander Tkachenko, CEO and Founder of the VNX liquidity mining platform, told Cointelegraph that the full capabilities of crypto in real estate remain untapped.
“There is still a huge demand for alternative financial and payment instruments around the world,” he said while adding that favorable regulations would go a long way in creating a more enabling environment for both industries:
Scott Scherer, CEO of Owners Unity — a company that allows homeowners to derive passive income from their assets through a decentralized finance (DeFi) model — echoed Tkachenko, telling Cointelegraph, “Investors and governments have come to accept the fact that crypto is here for the long term.”
He added that investors are increasingly using cryptocurrencies to transact due to the efficiency of crypto networks as compared to conventional banks.
Anastasia Kor, the chief marketing officer and board member of the innovative MetaFi ecosystem, Choise.com, told Cointelegraph that novel blockchain concepts such as real estate tokenization also appeal to global investors:
So, which countries currently support real estate purchases with crypto?
Thailand was among theRead more on cointelegraph.com